Two automotive industry leaders combine efforts to transform consumer mobility
Witt will serve as Platform Vice President, Northeast
The acquisition will allow the company to expand its offerings to include commercial insurance products and services
Deal will create one of the nation's largest family-owned dealer networks with significant charitable impact
Mount Laurel, NJ, (August 16, 2016): Holman Insurance Services is pleased to announce the acquisition of Risk, Partners, Inc., a Medford, New Jersey-based commercial insurance brokerage and Managing General Underwriter (MGU). This acquisition will officially launch the commercial division of the company and allows Holman Insurance to continue building its platform of personal and commercial lines of insurance products and services.
“We are extremely excited to welcome the Risk Partners team to the Holman family of companies,” said Steve Durdin, vice president of Holman Insurance Services. “This group of insurance and risk management experts is highly specialized in commercial underwriting and risk placement, and their creative approach to risk management will equip our organization with cutting-edge tools and capabilities in this important part of our business.”
Durdin went on to add, “Their consultative, customer-focused approach is a great match for the Holman culture and the addition of this outstanding group will, over time, provide all of our clients with a variety of expanded, value-added options.”
Risk Partners is licensed in 40 states and has been in operation for over twelve years. They offer commercial insurance programs to a wide variety of industries through a network of over 300 brokers and agencies around the country. They also specialize in alternative risk consultation and captive solutions. This acquisition will provide the knowledge, market access, tools and expertise to support additional growth of the business going forward.
Risk Partners will continue to operate under its current name as a wholly-owned subsidiary of Holman Insurance Services. Additionally, current principals Rob Bartholomew and Tracy Decker will stay on as president and vice president respectively.
Holman Insurance Services, LLC is a wholly owned subsidiary of Holman Enterprises in Maple Shade, New Jersey. Launched in 2016, this company will be offering a full array of personal lines insurance products to our valued retail customers from around the country. In addition, this group will be focused on providing customized insurance and risk management solutions to commercial clients from across the Holman group of companies.
Holman Enterprises, a third generation family-owned business, has five other business segments in addition to Holman Insurance Services that support several diverse sectors of the automotive market: Holman Automotive, a retail automotive group consisting of 40 dealership franchises throughout California, Colorado, Florida, Kansas, New Jersey, Oregon, Pennsylvania and Washington; Steward Financial Services, an auto retail finance company; Holman Parts Distribution, a national multi-brand powertrain parts distributor; Auto Truck Group, a truck up-fitting business; and ARI, the largest privately-owned fleet leasing and management company in North America.